ONTO Innovation (NASDAQ: ONTO) SVP has 530 shares withheld to cover equity award taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
ONTO INNOVATION INC. reported a Form 4 for officer Yoon Ah Oh, SVP, General Counsel and Corporate Secretary. On this date, 530 shares of common stock were withheld by the company at $271.77 per share to cover tax obligations from vesting of restricted or performance stock units. After this non-market tax-withholding transaction, the officer directly holds 21,110 common shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
OH Yoon Ah
Role
SVP, Gen Counsel & Corp Sec
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 530 | $271.77 | $144K |
Holdings After Transaction:
Common Stock — 21,110 shares (Direct, null)
Footnotes (1)
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Key Figures
Shares withheld for tax: 530 shares
Withholding price per share: $271.77 per share
Shares held after transaction: 21,110 shares
3 metrics
Shares withheld for tax
530 shares
Tax-withholding disposition for vested RSU/PSU grants
Withholding price per share
$271.77 per share
Value used for the 530 withheld shares
Shares held after transaction
21,110 shares
Direct common stock ownership following tax withholding
Key Terms
restricted stock unit, performance stock unit, tax withholding obligations, Form 4
4 terms
restricted stock unit financial
"in connection with the vesting of restricted stock unit or performance stock unit grants"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
performance stock unit financial
"in connection with the vesting of restricted stock unit or performance stock unit grants"
A performance stock unit is a type of reward companies give to employees, usually managers, that depends on how well the company performs over time. If the company hits specific goals, the employee earns shares of stock, like earning a prize for reaching certain levels in a game. It motivates employees to work hard because their rewards are tied to the company's success.
tax withholding obligations financial
"shares withheld by Issuer to satisfy tax withholding obligations in connection with the vesting"
Form 4 regulatory
"INSIDER FILING DATA (Form 4):"
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
FAQ
What insider transaction did ONTO (ONTO) report in this Form 4?
ONTO reported that officer Yoon Ah Oh had 530 common shares withheld to cover tax obligations tied to vesting equity awards. This was an internal tax-withholding disposition, not an open-market stock sale or purchase.
Was the ONTO (ONTO) Form 4 transaction an open-market sale?
No. The filing shows a tax-withholding disposition where 530 shares were withheld by the issuer to satisfy tax obligations on vesting restricted or performance stock units, rather than a discretionary sale in the open market.
What triggered the tax-withholding in the ONTO (ONTO) Form 4 filing?
The tax-withholding was triggered by the vesting of restricted stock unit or performance stock unit grants previously received by the reporting person. The company withheld 530 shares to satisfy the associated tax obligations at the time of vesting.